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1906 — Fireman's Fund was the first company to provide nationwide auto insurance. 1906 — San Francisco earthquake destroyed Fireman's Fund's headquarters and all records, but it was able to pay all policyholder claims with a combination of cash and stock. Claims were taken “on their word” as all insurance documents were destroyed.
White Mountain Insurance Group began in the early 1980s by John J. Byrne, the man recruited by American Express to turn around troubled property and casualty insurer Fireman's Fund. [3] When Byrne took Fireman's Fund public in 1985, it was the largest IPO in American history, [4] and the insurer was sold to Allianz six years later. [5]
The American Insurance Company later became the American Insurance Group. [12] The company was acquired by the Fireman's Fund Insurance Company in 1963 [13] the combined company for a time known as the Fireman's Fund American Insurance Group. [14]
Governor of Oklahoma Charles N. Haskell signed into law the first fireman’s pension benefit law May 14, 1908. The new law contained a 1 percent tax on insurance premiums to fund the pension benefits for both paid and volunteer firefighters.
Fireman's had incurred $356 million in pretax losses in 1983 and 1984. Byrne vastly improved Fireman's financial performance and initiated a public offering of some of Fireman's shares in 1985. The company was sold to Allianz AG in 1991. [2] Byrne retained the Fireman's holding company, which he later renamed as White Mountains Insurance Group ...
Wilburn Boat Company v. Fireman's Fund Insurance Company, 348 U.S. 310 (1955), is a United States Supreme Court case in which the Court held that state law, rather than federal admiralty law, should govern marine insurance contracts. [1]